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Huobi signs agreement with city of Busan to nurture blockchain industry growth

BUSAN, SOUTH KOREA – News Direct – 14 September 2022 – Huobi Global and Huobi Korea announced today the signing of a Memorandum of Understanding (MoU) with the Busan Metropolitan City government. Under the agreement, Huobi Global and Huobi Korea will work closely with the city to develop its blockchain industry, supporting its vision to become a global digital assets hub. The partnership covers the provision of R&D, technology and financial support for the Busan Digital Currency Exchange, as well as the recruitment of global blockchain talent for the Busan local exchange.

Huobi has been operating in South Korea through a local office since 2019, where it is regulated under a license issued by the Korean Financial Services Commission last year. This makes Huobi the first digital asset exchange with a physical presence in Korea to cooperate with the Busan Metropolitan City government in blockchain development.

Huobi’s operational experience in Korea and its understanding of the local market, coupled with its strong track record of delivering premium services to users in the region, will give it a distinct advantage in helping Busan build a sound blockchain ecosystem. It has cultivated strong relationships with major local groups in the development of its own blockchain business, with close ties to the Korean blockchain industry. Huobi Korea has also explored innovative business ventures with other companies in Korea, under an approach that emphasizes mutual benefits.

As a pioneer and industry leader in the application of blockchain technology, Huobi has had a longstanding commitment to building blockchain infrastructure since its inception. It has invested in several prominent blockchain projects, and is willing to actively partner with high-potential project teams to address key challenges in the digital economy. As a one-stop platform which offers blockchain applications and services targeted at various industries, Huobi focuses on driving the development of the blockchain industry, leveraging the combined expertise of the Huobi Research Institute and Huobi Academy to deliver professional services for the entire life cycle of the blockchain industry.

Huobi Korea CEO Junyong Choi said, “We’re excited to be working with the city of Busan to transform it into a global digital assets hub. We believe that Busan has strong attributes for fostering innovation and growth, and share their belief that blockchain technologies can transform and benefit traditional industries. We look forward to leveraging our expertise and experience to grow blockchain adoption in the city and across the region.”

Heong-Joon Park, Mayor of Busan, said, “The City of Busan is pleased to partner with Huobi to foster the growth of our blockchain ecosystem. As a blockchain regulation-free zone, Busan offers a conducive environment to develop the latest digital financial technologies, which has attracted many blockchain companies from across the world. I hope Huobi will spread the word on Busan’s strong environment and support for digital finance, so that we can draw more blockchain talent to our city.”

To reinforce its commitment, Huobi will also be the main sponsor for Busan Blockchain Week 2022, which will begin on October 27. Huobi invites potential partners to connect with it at its booth. Interested co-investors can also contact IR-kr@hb.co.kr, and project parties interested in listing their tokens can contact listing-kr@hb.co.kr for more information.

Contact Details
Huobi PR team
+1 401-244-8310
intlpr@huobi.com

Company Website
https://www.huobi.com/

Hashtag: #Huobi

The issuer is solely responsible for the content of this announcement.

About Huobi Korea

Established in 2018, Huobi Korea is part of Huobi Group, one of the world’s leading blockchain companies. Huobi Korea is dedicated to providing reliable and secure services as an exchange, with plans to develop a more comprehensive blockchain ecosystem, including a blockchain research institute, portal businesses and financial services. For more info, visit

About Huobi Global
Founded in 2013, Huobi Global is one of the world’s leading cryptocurrency exchanges, with tens of millions of users across five continents and 160 different countries and regions. We are dedicated to empowering financial freedom and creating new global wealth, having led the cryptocurrency industry in spot, derivatives, and Bitcoin transactions for many years. Our infrastructure, operations and offerings are built on processes and standards that prioritize user safety and industry compliance, backed by strong global customer support underpinned by local expertise. It offers a unique trading environment that is truly customer-first, safe and sustainable for all users, enabling their long-term success. For more information, visit

Microban Launches Refresh™: A Patent-Pending Odor Capture Technology that is Completely Metal Free

HUNTERSVILLE, NORTH CAROLINA – News Direct – 14 September 2022 – Microban International is pleased to introduce Refresh – its newest, patent-pending, sustainable odor capture technology that is completely metal free. This innovative technology is proven to reduce odors by up to 93% on polyester and polyester-rich blends, even after 30 home launderings.

Refresh – mode of action


Microban is the global leader in antimicrobial and odor control technology, and has developed Refresh as part of its ongoing dedication to sustainable textiles manufacturing. This patent-pending formula is designed to address the needs of both manufacturers and consumers, by providing an effective solution to tackle permastink without relying on traditional heavy metal chemistries. Refresh is proven to effectively reduce odors on polyester and polyester-rich blends, including activewear, hunting gear and other apparel. By keeping garments fresher for longer, this technology will allow end-users to enjoy the benefits of washing items less frequently and therefore reduce water consumption and fiber pollution, preventing premature disposal and decreasing landfill loading. It also allows manufacturers to reduce their use of pesticidal chemistries.

Michael Ruby, President at Microban International, explained the importance of this innovation: “Microban is focused on sustainable solutions, and is proud to have developed Refresh, a more environmentally-friendly technology designed to combat the issue of persistent odors on clothing without using any metal-based chemistries. With Refresh, apparel brands and manufacturers across the world can deliver smart textiles that stay fresher for longer, extending their usable lifetime and reducing the mountains of textile waste that end up in landfill each year. Refresh complements Microban’s Scentry® and Scentry Revive® technologies perfectly, now providing three world-class bluesign®-listed technologies for apparel brands to specify at the mill level for odor control applications.”

Refresh can be incorporated during the manufacturing processes for polyester and polyester-rich blends products as an easy-to-use and particle-free one-part liquid solution, avoiding any concerns about settlement during storage and mixing. It is fully water soluble and will not negatively impact fabric properties. Dr. Yihong Li, Senior Technical Manager for Textiles at Microban International, elaborated: “Refresh has been meticulously designed to provide effective odor protection that not only contributes to sustainable initiatives, but also seamlessly integrates into polyester textile manufacturing processes. Microban has applied its expertise and extensive technical knowledge to develop this technology to meet industry demands for smarter textile products.”

Refresh is available to apparel brands and manufacturers globally, along with Microban’s support and expertise. Find out more at https://www.microban.com/odor-control/technologies/refresh and get in touch with a representative today!

Hashtag: #Microban

About Microban International

Part of Barr Brands International (BBI), Microban International is home to the most trusted and well-known global brands in the antimicrobial, odor control, and sanitization / disinfection markets – Microban® and Ultra-Fresh®. Our organization has experienced over 100 collective years of growth and has revolutionized the industry. As the global leader, our proactive systems keep products cleaner, and control odors better by preventing problems before they start. Microban International drives innovation by combining science and creative solutions that enhance high-quality consumer, textile, industrial and medical products around the world. Today, the Microban and Ultra-Fresh brands and our technologies are featured on thousands of products worldwide. The company is headquartered in North Carolina with operations in North America, Europe, and Asia Pacific. For more information, please visit .

Teledyne e2v and Thorium Space announce the development of a collaborative project which will be a game changer for the satellite market

GRENOBLE, FRANCE – Media OutReach – 14 September 2022 – Thorium Space, a company in the advanced satellite communication systems sector, has officially started work on a joint project in cooperation with Teledyne e2v Semiconductors, a global company in the field of advanced technologies used in the aerospace and defence sector.

The fact that such a recognized company with a global reach decided to cooperate with an emerging Polish company is indicative of the leading-edge solution proposed by Thorium Space. Work will focus on the definition and development of state-of-the-art key elements of an advanced communication payload that will offer more efficient use of the spectrum and satellite payload resources.

This will lead to genericity of the hardware with the ambition of ultimately reducing costs and production time. The scope of application opens the door to the so-called intelligent telecommunication payloads, resulting in unprecedented operational flexibility. Technically, the so-called full Digital Beam Forming (DBF) creates transmitting and receiving beams directly in the digital domain, working on the full Ka band (17.7-20.2 GHz and 27.5-31.0 GHz).

This is a game changer in the satellite market. The system provides scalability and flexibility and applications developed and updated in orbit, which is another innovation. The first solutions will be available on the market in 2024.

As part of the cooperation, Teledyne E2V will deliver the elements which are jointly specified with Thorium Space, which will be incorporated in DBF Ka Payload – a full digital communications payload along with the associated processing resources, offering a powerful solution for geostationary applications with 15 years of continuous operation and adapting to the market needs.

Teledyne e2v Semiconductors SAS specializes in the production of advanced semiconductors. It is part of Teledyne e2v, a world leader in specialized components and subsystems for innovative solutions in aerospace and defence applications. Teledyne e2v products have been used, among other things, for the Hubble Space Telescope, the Gaia project and the transmission of images of Mars by the New Horizons spacecraft. The company’s customers include Airbus, Boeing, Raytheon, Northrop Grumman, Thales group and others. Teledyne e2v belongs to Teledyne Technologies Incorporated, an industrial conglomerate employing almost 15,000 people. The company supplies aerospace and defence electronics, digital imaging products and software, monitoring instrumentation for marine and environmental applications, communications products in harsh environments, and satellite communication subsystems.

Thorium Space Sp. z o.o. is a company in the sector of advanced satellite communication systems (Space Advanced Communication Company). It deals with the design of innovative technological solutions in the field of construction of space vehicles and intelligent array antennas, applicable in the space industry and the defence sector. It consists of an interdisciplinary team of nearly 40 space technology engineers and specialists in related fields. It has offices in Wrocław and Warsaw. In 2021, Thorium Space was chosen as one of the 10 most innovative space technology start-ups and awarded as one of the 5 Top Space Tech Global Manufacturing Solutions of the 288 companies surveyed. (https://www.startus-insights.com/innovators-guide/discover-5-top-space-manufacturing-solutions/)

Hashtag: #Teledynee2v

Thai Man Detained at Laos Border for Carrying Shotgun

A 42-year-old Thai man was arrested for violating Article 58 of the Customs Law, which prohibits the carrying, sale, and possession of such a weapon.

Cheng & Cheng reveals the importance of balancing interests of HKIRD in Transfer Pricing matter

HONG KONG SAR – Media OutReach – 14 September 2022 – After implementing Transfer Pricing Law for a few years, Hong Kong Inland Revenue Department is now ready to impose more Transfer Pricing Audit on Hong Kong Tax Payers and request taxpayers to prepare and submit Transfer Pricing Documentation. Cheng & Cheng Taxation Services Limited (“Cheng & Cheng Taxation”) will further reveal the importance of balancing interests of HKIRD in Transfer Pricing, with the below discussion areas:

  • two common scenarios when the IRD carries out transfer pricing adjustment in Hong Kong;
  • the penalties of lacking proper documentation; and
  • the reasons of preparing benchmarking studies.

    Renowned for being one of the lowest tax rate jurisdictions, and for its conducive business environment, Hong Kong is a place in which multinational corporations (MNCs) tend to allocate more profits in order to lower the overall group effective tax rate. The Hong Kong Inland Revenue Department (IRD) definitely welcomes this. However, with the adoption of Automatic Exchange of Information (AEOI), tax filings submitted to the IRD may be shared with other tax authorities. As such, the transfer pricing policies of MNCs must balance the interests of all relevant tax authorities, not limited to the IRD. Henry Kwong, Tax Partner of Cheng & Cheng Taxation said “MNCs should not overlook the importance of Hong Kong in their Transfer Pricing Policy, from both a compliance and tax planning perspective.”

    There have previously been occasions where a group sacrificed Hong Kong in their transfer pricing policies. However, with the implementation of the transfer pricing law in July 2018, tax adjustments can now be made to Hong Kong entities with a less than reasonable level of profits. More importantly, penalties up to the amount of tax undercharged can be imposed in the absence of proper transfer pricing documentation.

    Scenario 1: Assigning big losses to Hong Kong entities during a recession

    Thanks to the closure of border due to Covid-19 pandemic and skyrocketing inflation across the globe, the year 2022 has undoubtedly been a difficult one for MNCs and Mainland China Enterprises. It can be a real headache for in-house tax specialists to apply their transfer pricing policies as the overall profit margin of the group plunges. As the group will have already entered into either advance pricing arrangements or informal agreements with tax authorities in other operating jurisdictions, they may still have to assign a certain percentage of the profit margin to those jurisdictions, despite the profit slump. In the past, a group was left with no alternatives but to allocate substantial losses to Hong Kong entities of the group. This is now impossible since the IRD is likely to impose transfer pricing adjustments and will not accept the losses.

    Scenario 2: Hong Kong as a collection and payment hub

    Hong Kong enterprises are commonly assigned to be the “collection and payment hub” of a group to collect and make payments on behalf of its group companies in other jurisdictions to get around foreign exchange control restrictions. From an accounting perspective, these transactions may be booked as sales and cost of sales without any markup. These break-even transactions lower the overall operating profit margin of the Hong Kong entity despite a “nil” effect on the absolute amount of profit. However, the corporation’s lower overall profit margin may trigger the attention of tax authorities, especially when the margin is lower than the industry average.

    Importance of proper transfer pricing documentation in Hong Kong

    As in other jurisdictions, transfer pricing documentation in Hong Kong comprises Master File, Local File and Country-by-Country (CbC) reporting. While following the universal threshold of group consolidated revenue of EUR750 million for a CbC report, the threshold for Master File and Local File in Hong Kong is rather complicated (see Table 1).

    Table 1: Threshold for Master File and Local File

    Criteria (A): Based on size of business (any two out of the three below) Threshold
    (i) Total annual revenue > HK$400 Million
    (ii) Total assets > HK$300 Million
    (iii) Employees >100
    Criteria (B): Based on related party transactions (any one out of the four below) Threshold (HK$)
    (i) Transfer of properties (excludes financial assets / intangibles) > HK$220 Million
    (ii) Transactions in financial assets > HK$110 Million
    (iii) Transfers of intangibles > HK$110 Million
    (iv) Any other transactions (e. g. service income /royalty income) > HK$44 Million

    On the other hand, taxpayers should closely adhere to the Deadline of preparing the Transfer Pricing Documentation (see Table 2).

    Table 2: Deadline of preparing Transfer Pricing Documentation in Hong Kong

    Transfer Pricing Documentation Deadline
    Country-by-Country Report Notification 3 Months after the Accounting Year-End
    Country-by-Country Report Filing 12 Months after the Accounting Year-End
    Master File & Local File 9 Months after the Accounting Year-End

    As mentioned above, failure to prepare proper documentation can trigger not only administrative fines, but also penalties up to the amount of tax undercharged in the case of transfer pricing adjustments. More pertinently, no tax credit will be granted in other tax jurisdictions for such penalties.

    Applying the same logic, there is a growing trend for MNCs to prepare benchmarking studies, even when their size does not meet the required threshold, for the following reasons: –

    Tax authority challenge

    • The IRD is increasingly eager to request a benchmarking study, even if the corporation does not meet the threshold for preparing transfer pricing documentation, especially in the case of high gross profit fluctuation;
    • Field investigation by the IRD can be a painful process. A benchmarking study is often very helpful in reaching a compromise settlement, such as in the case of failure to maintain proper accounting records.
    Tax advisory on operational change

    • Thanks to its low tax rate, Hong Kong is still a place in which many corporations prefer to allocate more profits. Given the current global situation, many MNCs are considering to shift their location of operations. Making use of this opportunity, they are eager to set up substance in Hong Kong to justify their profit allocation.
    Initial Public Offering in Hong Kong

    • Authorities now customarily request benchmarking report from corporations wishing to list on the Hong Kong Stock Exchange in order to assess their tax risk after getting listed in Hong Kong.

    As a last piece of advice, with the implementation of the Common Reporting Standard (CRS) and AEOI, global tax authorities are more intent on targeting foreign corporations operating in local tax jurisdictions, normally in the form of a Permanent Establishment (PE). While the arguments about the existence of PEs continue, transfer pricing is a preferred means of resolving PE tax disputes. As such, it is essential that MNCs review their current operations and update their transfer pricing policies to reduce their transfer pricing risk.
    Hashtag: #Cheng&ChengTaxationServices

    The issuer is solely responsible for the content of this announcement.

    About Cheng & Cheng Taxation Services

    This article is by Henry Kwong, Tax Partner of Cheng & Cheng Taxation Services. Cheng & Cheng is one of the top 20 accounting firms in Hong Kong, with over 300 staff in Hong Kong and the PRC. We are the principal auditor for 15 listed corporations in Hong Kong and the tax advisor for over 80. We specialise in providing Hong Kong, PRC and international tax advisory services, as well as transfer pricing services to international clients. If you would like to know more about transfer pricing in Hong Kong, or seek tax advice from our tax experts, please do not hesitate to contact us by email ) or phone (+852 3962 0114).

    Village House to Giveaway Free Ville-Jiro-kun themed NFT

    TOKYO, JAPAN – Media OutReach – 14 September 2022 – Village House, an innovative leader in real estate, in Japan, through renovating Danchi and affordable living. Village House is well known for offering apartments for rent with no deposit, no renewal fees, no key money, and no handling fees. Village House is also known for their cute mascot, Ville-Jiro-kun.

    Ville-Jiro-kun NFT

    For the first time in Japan, Village House is creating a limited number of Ville-Jiro-kun NFTs. A Non-Fungible Token (NFT for short) is a piece of digital art with a unique digital signature to prove ownership. Our cute mascot inspired NFTs are collectible digital versions of the beloved mascot, Ville-Jiro-kun, and we’re giving them away to a few lucky fans on Instagram and Facebook beginning July 2022.

    How to enter for a chance to win – make sure you are following @villagehousejp on Instagram, comment or dm us your favorite Ville-Jiro-kun and share the NFT post on stories any time between July 6 through July 13 from your Instagram account. Alternatively, you can comment your favorite Ville-Jiro-kun on the campaign post on Facebook and visit our Facebook page, also named @villagehousejp.

    By October 7th, we’ll select 10 lucky winners who will receive the unique Ville-Jiro-kun NFTs to add to their digital wallet and do what they please within the confines of the giveaway rules. For full giveaway instructions, rules and NFT ownership guidelines please click here: Giveaway Rules

    If you do not want to miss out on this historic giveaway make sure to have an Instagram account, or Facebook account, and a Solana NFT compatible Digital Wallet to collect your prize. Be sure to participate for a chance to win this unique Japanese NFT.

    Hashtag: #VillageHouse

    About Village House

    Village House provides high-quality rental properties with easy procedures at affordable prices in Japan. Starting from ¥20,000 per month, explore our promotions and discover a new life in one of our low-cost units today or follow us on Instagram @villagehousejp and Facebook.

    “SHIP” is the First-Ever “NFT Art Film” that Combines NFT Art and Entertainment

    SINGAPORE – Media OutReach – 14 September 2022 – Art Tokyo Global (“ATG”), a Singapore company, announced the completion of SHIP – the world’s first immersive NFT art film. Making use of user interactivity techniques, the film sets a new milestone for the movie industry, enabling viewers to interact with the film in cinemas or from the comfort of their own homes.

    Featuring 221 NFT artworks across 14 scenes, SHIP showcases the work of over 80 emerging and established Asian artists. Among these is a unique collection of 5 art pieces -Shizuku Shizuku by renowned Japanese artist and architect, Mr. Kengo KUMA, who was listed on Time magazine’s list of the World’s 100 Most Influential People in 2021.

    The film seamlessly blends the genres of art, graphics, performance, music and technology into a coherent experience. Viewers will be treated to a multi-sensory display of cutting-edge NFT art, spectacular sound-tracking, moving stories of humanity, and will even have the opportunity to purchase the artworks that feature in the film right from their seats. Catered to both connoisseurs and new fans alike, SHIP presents an exciting new cultural experience and opportunity within the entertainment sector.

    The film features novel cinematographic techniques, such as advanced volumetric photography to construct virtual spaces from images taken by 2D cameras. During the film production, the director used 150 to 400 cameras to film each scene to deliver the immersive experience as a vehicle for rich visual storytelling.

    SHIP’s narrative builds on the speculative geological theory of Amasia – a coming together and merging of the continents into a single entity in the distant future, emphasizing the importance of seeking connection with others and meaningful cross-cultural dialogue in our increasingly fractured present. According to Mr. Naohiko KISHI, Chairman and Executive Producer of ATG, “In this film, the viewers become a crew member of a ship that transcends time and space. Set across Greece, Egypt, China and Japan, SHIP navigates the viewers through a history of beauty and conflict that humanity has repeatedly caused; where cultures flourished on each of the five continents separated from a single landmass 250 million years ago, conflicts followed.”

    The global premiere of SHIP has been scheduled for late November 2022 in Singapore, and a worldwide public release is scheduled for early 2023 in cinemas and across streaming platforms.

    Hashtag: #ArtTokyoGlobal #ATG

    OPPO Screen Protection Plan Gives Back to Global Users with Care & Reach Services

    SHENZHEN, CHINA – Media OutReach – 14 September 2022 – From June 30 to August 30, 2022, considering the actual pain points of users when using phones, OPPO launched a “Screen Protection Plan” event globally. The campaign covers new and old phone models such as Find X, Reno, R, A series, etc. And OPPO users can enjoy up to 50% discount and abundant forms of screen-care activities at the OPPO Official Service Center.

    With the two-month “Screen Protection Plan” promotion event, OPPO has solved some of the painful problems for users with screen discounts, screen-care method teaching, and other caring services. The response to the event was overwhelming as soon as it was launched.

    Concerned about the repair demand for screen replacement from all over the world, this year, it’s the first time that OPPO jointly organized this global promotion event over thousands of service centers in 10 countries and regions worldwide, and is committed to letting more users enjoy OPPO’s caring screen replacement service. OPPO has strived to create a convenient, transparent, and efficient after-sales service experience for customers adhering to the “Care & Reach” service concept.

    Outstanding products and excellent service complement each other. It is worth mentioning that the high level of OPPO’s brand recognition by users is not only about the product, but its service capabilities. As a technology enterprise that keeps up with the times, OPPO not only focuses on the investment and improvement of technology and product but also pays more attention to humanistic value and user experience. Now OPPO has more than 2,500 service centers worldwide in 60 countries and regions.

    In the future, OPPO will continuously focus on user needs and refine the process. Attracting users worldwide with excellent research and development power, product power, and also caring service, OPPO will strive to improve the service quality and bring a better service experience to users.

    And the good news is that the benefits keep on coming! This September, OPPO will ceremoniously launch a promotion event to celebrate the “2nd anniversary of Service Day”, there will be more spare parts discounts and gifts to give back to its users. For more information, please stay tuned to OPPO’s official website and OPPO Care FB page.

    Find more: https://support.oppo.com/

    Hashtag: #OPPO